The forecasted total support for petroleum in China's fossil fuel production shows a consistent decline from 2024 to 2028. In 2023, this support stood at 2.03 billion US dollars. The data indicates a year-on-year decrease of approximately 2.5% by 2025, with a consistent downward trend through 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) suggests a consistent reduction of about 2.7% per year.
Future trends to watch for:
- Impact of China's energy policy shifts towards renewable sources.
- Potential global oil market fluctuations that may influence support levels.
- Technological advancements in energy efficiency and their effect on fossil fuel dependency.